Using administrative, longitudinal data on felony arrests in Florida, we exploit the doscontinous increase in the punitiveness of criminal sanctions at 18 to estimate the deterence effect of incarceration. Our analysis suggests a 2 percent decline in the logodds of offending at 18, with a...

This paper provides a theoretical analysis of optimal minimum wage policy in a perfectly competitive labor market. We show that a binding minimum wage while leading to unemployment is nevertheless desirable if the government values redistribution toward low wage workers and if unemployment...

We consider nonparametic identification of the average marginal effect of a continuous endogenous regressor in a generalized nonseparable model when the regressor of interest is a known, deterministic, but kiniked function of an observed continuous assignment variable. This design arises in many...

We estimate the effect of new unionization on firms’ equity value over the 1961-1999 period using a newly assembled sample of National Labor Relations Board (NLRB) representation elections matched to stock market data. Event-study estimates show an average union effect on the equity value of...

This article has been written at the initiative of UK climate scientists, from both the academic sector and the Hadley Centre for Climate Prediction and Research, in response to an article in the previous issue of World Economics by Carter et al., which was part of a ‘Dual Critique’...